December 8, 2024
In-Vehicle Infotainment Market

In-Vehicle Infotainment Market by Connected Car Technology

In-vehicle infotainment (IVI) systems refer to hardware and software solutions installed in vehicles that provide audio/video, navigation, communication, and other features. IVI systems allow drivers and passengers to stay connected with multimedia content while on the move. Modern vehicles are being equipped with advanced IVI units that support internet connectivity, voice commands, and app-based services. Features like navigation, digital radio, rearview camera, Bluetooth connectivity, voice recognition, and smartphone mirroring are commonly available in IVI offerings. The ability to mirror smartphone apps and integrate popular services like Spotify, Waze, and Pandora is bolstering the adoption of modern IVI systems.

The global in-vehicle infotainment market is estimated to be valued at US$ 27.5 billion in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Emerging connected car technology is expected to be a key driver for the in-vehicle infotainment market over the forecast period. Connected vehicles are equipped with internet connection that allows access to real-time traffic updates, live weather information, location-based services, and telematics features through the IVI interface. The connectivity brings enhancements like remote diagnostics, software over-the-air updates, emergency calling, and assistance directly to the vehicle. In addition, smartphone mirroring enabled by various apps allow users to safely access maps, messages, music and more on the IVI display. Automakers are focused on tightening integration between vehicles and mobile devices through their proprietary connected platforms. This growing connectivity is anticipated to boost the demand for advanced IVI systems with internet and app-based capabilities.

Segment Analysis
The in-vehicle infotainment market is dominated by the connectivity segment, which holds around 55% share. This is because connectivity allows integration of applications like navigation, calling and internet within vehicles. The connectivity segment allows streaming of media and other contents from smartphones seamlessly.

PEST Analysis
Political: Favorable regulatory environment exists for in-vehicle technologies in major automotive markets. Governments focus on safety and minimize driver distraction.
Economic: Rising disposable income and demand for connected driving experience will propel market growth. Lower component prices also support affordability.
Social: Younger population adopts infotainment solutions faster for entertainment and productivity on the move. Safety concerns also drive social acceptance of advanced systems.
Technological: Developments in smartphone interfaces, connectivity options and voice control solutions enhance in-vehicle experience. Over-the-air updates facilitate continuous upgrades.

Key Takeaways

Global In-Vehicle Infotainment Market Size is expected to witness high growth.

Regional analysis: The Asia Pacific region has emerged as the largest market for in-vehicle infotainment systems owing to high vehicle production volumes across major economies like China, Japan and India. Chinese brands especially focus on connected vehicle technologies. European nations also adopt advanced infotainment at a fast pace due to high average income levels.

Key players operating in the in-vehicle infotainment market are Toyota, Volkswagen, Ford. Toyota offers varied touchscreen multimedia options across models. Volkswagen’s MIB systems power connectivity and navigation. Ford Sync brings platform integration across ranges.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →